The Analysis OmiseGo / Dollar — from goldbug1

Falling just below our initial target level, we returned to our area buy and bought at levels 18.59 17.35 and with the preliminary goal of 25. 1-day bar generates a good signal of a reversal, and although there are about 51/2 hours, the market was relatively neutral, providing limited risk when entering into it. Again, I don’t use stop-losses to manage transactions, I actively manage the alerts. Fake breakthrough could lead on to testing the lower level of 15.50, which is the 0.382 retract the overall bullish move from the February low. Because you can still test this level before moving higher, I decided to enter three positions and, accordingly, allocated funds. If we will test lower levels, I won’t have a problem adding there and will look for a reversal signal before entering. There is still the possibility that we could check the level of 13.65, which is the 0.618 retrace the overall bullish movement, and although unlikely, we cannot discount. A pullback to this level will attract buyers and I’m one of them. We consider the level 22.33 as the level of resistance and can reduce the position there based on price action.

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